Gainers and Losers: 10 stocks that moved the most on January 16

The market broke its five-day winning run to end lower on January 16 on profit booking. The Sensex closed 199.17 points or 0.27 percent down at 73,128.77 and the Nifty ended the day 65.20 points or 0.30 percent down at 22,032.30. About 1,206 shares advanced, 2,354 declined and 64 remained unchanged.

ITI | CMP Rs 371 | ITI jumped 17.67 percent on high trade volumes, as two crore shares changed hands against the weekly average of 30 lakh. The stock started moving up in September after the state-owned firm said it had developed laptops and micro PCs under the brand name Smaash, signalling its foray into laptop manufacturing in India.

Polycab | CMP Rs 4345 | Shares of Polycab surged 3.5 percent after Goldman Sachs maintained “buy” call on the stock with a target price of Rs 5,750, indicating an upside of 33 percent from the current market price. Goldman Sachs said it takes no view on the allegations and the stock after the recent correction is trading at attractive valuations.

PNB Housing | CMP Rs 847 | Shares of PNB Housing gained 6.25 percent after Motilal Oswal declared the company as its top pick in the NBFC and housing finance sector. The brokerage firm has a “buy’ call on the stock with a target price of Rs 1,025.

Syngene International | CMP Rs 715 | Shares of Syngene International fell 2.6 percent after UBS downgraded the stock from ‘buy’ to ‘sell’ with a target price of Rs 700. The brokerage said the outlook for the company is weak due to “tough macroeconomy, tight budgets for large, global pharma companies and muted VC funding for biotech”.

Capri Global | CMP Rs 958 | Shares of Capri Global jumped 17.81 percent after the company announced that it received the licence to distribute life, general, and health insurance products.

Usha Martin | CMP Rs 316.15 | Shares of Usha Martin gained 2.71 percent after the company announced that its Thailand-based subsidiary, Usha Siam Steel Industries Public Company Ltd (USSIPCL), has inked an agreement to acquire a 50 percent stake in Tesac Usha Wirerope Company Ltd (TUWCL).

NALCO | CMP Rs 139 | Shares of National Aluminium Corporation and Hindustan Copper surged 2.73 percent and 3.58 percent respectively after Khanij Bidesh India Ltd (Kabil), a joint venture of the two with Mineral Exploration Company Ltd, inked a deal with Argentina’s Camyen SE for lithium exploration and mining.

Angel One | CMP Rs 3,348.8 | Angel One stock fell 13.59 percent after the company’s margin slumped to 37.60 percent in the third quarter, down from 43.3 percent in the year ago period.

Patanjali Foods | CMP Rs 1601 | Shares of Patanjali Foods slipped 2.14 percent after the company reported single-digit sequential and on-year growth in volumes during Q3FY24.

Eicher Motors | CMP Rs 3,795 | Shares of Eicher Motors fell 0.97 percent after global brokerage firm Morgan Stanley downgraded the stock to underweight from equal-weight and cut the target price, citing market share and margin challenges, and high valuations.